Kohl's to operate 1,400 stores by 2012

MENOMONEE FALLS, Wis. Kohl's plans to operate 1,400 stores by 2012, the company announced today. The company also said that it is celebrating the largest grand opening in its history which includes 95 new stores reflecting innovative features, one new state and 14,000 newly created jobs.

"For the past two years, we have exceeded our financial objectives and believe we are well positioned to deliver on our long-term strategic growth plan," said Larry Montgomery, Kohl's chairman and ceo. "We remain focused on merchandising, inventory management, marketing and the in-store shopping experience as well as our expansion plan."

In addition to store expansion, Kohl's objectives for the five-year period include comparable-store sales growth of 2% to 4% annually, total sales growth of 9% to 11% on a compound annual growth rate and earnings per share growth of 15% to 17% on a compound annual growth rate.